Oil prices declines

 Oil prices fell slightly to near $87 a barrel Wednesday in Asia. Saudi Arabia is showing no sign of changing its policy of high oil output to support the world economy, despite a fall in crude prices in June below $90 a barrel from near $130 in March. OPEC is pumping 1.63 million bpd more than its official ceiling of 30 million barrels per day (bpd), despite agreeing to stick to that target at a June 14 meeting. According to Algerian energy minister it was agreed at the last OPEC gathering that there would be a meeting "to correct imbalances,"